Mach Natural Resources LP (NYSE:MNR) Receives Average Recommendation of "Moderate Buy" from Analysts

Key Points

• Mach Natural Resources has a consensus analyst rating of "Moderate Buy" from eight brokerages, with an average 12-month price target of $17.50.
• The company recently posted Q1 earnings of $0.74 per share, beating estimates, though revenue came in below expectations at $286 million.
• Mach Natural Resources also raised its quarterly dividend to $0.64 per share, implying a very high annualized yield of about 20.4%.

Mach Natural Resources LP (NYSE:MNR - Get Free Report) has been given a consensus rating of "Moderate Buy" by the eight brokerages that are covering the stock, MarketBeat reports. Four investment analysts have rated the stock with a hold recommendation, two have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $17.50.

A number of brokerages have weighed in on MNR. Raymond James Financial reduced their price target on Mach Natural Resources from $20.00 to $18.00 and set a "strong-buy" rating on the stock in a research note on Thursday. Weiss Ratings lowered Mach Natural Resources from a "hold (c)" rating to a "hold (c-)" rating in a research note on Monday, May 18th. Truist Financial started coverage on shares of Mach Natural Resources in a research note on Tuesday, March 24th. They set a "hold" rating and a $14.00 price objective for the company. Wall Street Zen downgraded shares of Mach Natural Resources from a "buy" rating to a "hold" rating in a research note on Sunday, May 10th. Finally, Zacks Research downgraded shares of Mach Natural Resources from a "strong-buy" rating to a "hold" rating in a research note on Monday, May 25th.

Insider Buying and Selling at Mach Natural Resources

In related news, insider Tom L. Ward acquired 153,256 shares of the stock in a transaction dated Monday, April 13th. The stock was bought at an average cost of $13.05 per share, with a total value of $1,999,990.80. Following the purchase, the insider directly owned 13,295,039 shares of the company's stock, valued at approximately $173,500,258.95. This represents a 1.17% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder General Partner S.A R.L. Ikav sold 5,557,679 shares of the business's stock in a transaction on Wednesday, April 8th. The shares were sold at an average price of $12.81, for a total transaction of $71,193,867.99. Following the sale, the insider directly owned 4,259,110 shares of the company's stock, valued at $54,559,199.10. This represents a 56.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 87.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Mach Natural Resources

Several hedge funds and other institutional investors have recently modified their holdings of the company. Cooksen Wealth LLC lifted its stake in shares of Mach Natural Resources by 87.5% in the 2nd quarter. Cooksen Wealth LLC now owns 2,635 shares of the company's stock valued at $38,000 after purchasing an additional 1,230 shares in the last quarter. Hilton Head Capital Partners LLC purchased a new position in shares of Mach Natural Resources in the 4th quarter valued at $31,000. Stifel Financial Corp raised its stake in shares of Mach Natural Resources by 1.5% in the 4th quarter. Stifel Financial Corp now owns 231,999 shares of the company's stock valued at $2,561,000 after acquiring an additional 3,472 shares during the period. Gunpowder Capital Management LLC dba Oliver Wealth Management purchased a new position in shares of Mach Natural Resources in the 4th quarter valued at $42,000. Finally, CENTRAL TRUST Co raised its stake in shares of Mach Natural Resources by 384.7% in the 1st quarter. CENTRAL TRUST Co now owns 4,992 shares of the company's stock valued at $70,000 after acquiring an additional 3,962 shares during the period. 78.36% of the stock is owned by institutional investors and hedge funds.

Mach Natural Resources Price Performance

Mach Natural Resources stock opened at $12.54 on Tuesday. Mach Natural Resources has a 12-month low of $10.46 and a 12-month high of $15.60. The stock has a market capitalization of $2.11 billion, a P/E ratio of 16.28 and a beta of -0.32. The firm's 50-day moving average is $13.42 and its two-hundred day moving average is $12.76. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.83 and a quick ratio of 0.73.

Mach Natural Resources (NYSE:MNR - Get Free Report) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.74 earnings per share for the quarter, topping analysts' consensus estimates of $0.51 by $0.23. Mach Natural Resources had a return on equity of 18.46% and a net margin of 7.46%.The company had revenue of $286.00 million for the quarter, compared to analyst estimates of $397.61 million. Equities analysts predict that Mach Natural Resources will post 1.57 earnings per share for the current year.

Mach Natural Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 4th. Stockholders of record on Thursday, May 21st were paid a dividend of $0.64 per share. The ex-dividend date of this dividend was Thursday, May 21st. This represents a $2.56 annualized dividend and a dividend yield of 20.4%. This is a boost from Mach Natural Resources's previous quarterly dividend of $0.53. Mach Natural Resources's dividend payout ratio is presently 332.47%.

About Mach Natural Resources

Mach Natural Resources LP, an independent upstream oil and gas company, focuses on the acquisition, development, and production of oil, natural gas, and natural gas liquids reserves in the Anadarko Basin region of Western Oklahoma, Southern Kansas, and the panhandle of Texas. It also owns a portfolio of midstream assets, as well as owns plants and water infrastructure. The company was incorporated in 2023 and is headquartered in Oklahoma City, Oklahoma.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.